After a massive financial loss led to the closure of almost all of their operations a few years ago, HMV is opening the biggest entertainment store in all of Europe.

The company's new "HMV Vault" opens today in Birmingham, UK and is stocking 80,000 CDs and 25,000 vinyl albums in a store the size of a supermarket.

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This past February, Sunrise Records Canada owner Doug Putman bailed the company out and is also aiming at relaunching the retailer's online store.

The company is relaunching its online retail store on November 1, while its subsidiary, Fopp, will be relaunched online separately in early 2020 according to BNN Bloomberg.

The 25,000 square-foot flagship store in Birmingham also has an indoor performance space. Beyond stocking 80,000 CDs and 25,000 vinyl records, they'll also have movies, books, T-shirts, mugs and more.

On top of that store, Putman says HMV will open numerous new locations in 2020, focusing on London.

“I believe we can grow the chain,” he said in an interview with The Guardian. “A lot of high streets are challenged and struggling. The UK has got an amazing high street and we want to support that. There is something really special about it and when it’s gone, it’s gone,” says Putman.

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He further says HMV has an advantage over Amazon because it offers an experience and can be a part of local communities. “We hire people in communities and work with charities and we pay our tax. We do care. Amazon gives huge convenience but every time you get something amazing you are sacrificing something for that.”

"The world's a scary place if there is just Amazon and ultimately we are all starting to realize that."

Putman is hopeful the company will be able to thrive in its new format and is excited about the overwhelming response from the public.

“I’m really surprised how supportive customers and the public have been and how much people care and want us to succeed,” he adds. “This is just the beginning; people will see more change coming in the next three to six months.”

What do you think of the new flagship HMV store? Let us know in the comments below.

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